Guideline Value for Subbharya Chetty Street

Subbharya Chetty Street guideline value

The current guideline value of Subbharya Chetty Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Subbharya Chetty Street has changed

Looking at the revisions, the guideline value for Subbharya Chetty Street was Rs 1,500 per sq.ft in 2023 and Rs 1,500 per sq.ft in 2012. There are no figures available for the revisions in 2002, 2003, 2007, and 2017. The most recent revision in 2024 shows an increase to Rs 1,600 per sq.ft, marking a 7% rise from the 2023 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. This shows that while there was no change between 2012 and 2023, the recent adjustment reflects a notable increase in the guideline value.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which is equal to the current figure for Subbharya Chetty Street.

• ST. Saviour Street: Rs 1,300 per sq.ft (2024)
• Sudalai Muthu Street: Rs 1,600 per sq.ft (2024)
• Stanley Nagar Lane: Rs 1,300 per sq.ft (2024)
• Stanley Medical College: Rs 2,200 per sq.ft (2024)
• Suriya Narayana Chetty 2nd Lane: Rs 2,200 per sq.ft (2024)
• Suriya Narayana Chetty 3rd Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Subbharya Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Subbharya Chetty Street?

The Sub Registrar Office that covers Subbharya Chetty Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Tondaiarpet

The guideline value plays a crucial role during the registration of property transactions in Tondaiarpet. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling a property.

When a property is registered, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the registration process adheres to the state's regulations.

Frequently asked questions

What is the current guideline value of Subbharya Chetty Street?

The current guideline value of Subbharya Chetty Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024, marking a 7% increase. There were no changes recorded for the years 2002, 2003, 2007, and 2017.

What is the land classification of Subbharya Chetty Street?

The land classification for Subbharya Chetty Street is Residential Class I Type - II, indicating its designation for residential purposes.

What is the registration office for Subbharya Chetty Street?

The Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021, covers Subbharya Chetty Street.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,12,000.